NSE: GSLSU - Global Surfaces Limited

Price = Avg Price + (Avg Price * CAGR EPS% / 100)
EPS = Earning Per Share
CAGR EPS = CAGR 5 EPS
Key Rate — 关键利率
Excess Key Rate — 期望超出关键利率
EPS = 234.33
CAGR EPS = 8.66%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 184.22 + (184.22 * 8.66% / 100) = 200.17

Price = (Terminal Value + Company Value) / Count shares
Price - 价格公道
Terminal Value — 预测后期间的成本
Company Value — 预测期内的成本
Count shares - 股份数量
Terminal Value = Discount Ebitda(5) * (1 + Ebitda Yield) / (WACC - Ebitda Yield)
Company Value = ∑ (Discount Ebitda / (1 + WACC) ^ 5)
Discount Ebitda(5) = 13.45
Ebitda Yield = -0.0813
WACC = (Interest Expense / Debt) * (Weight Cost Debt) * (1 - Tax) + Cost Of Equity * Weight Debt
Interest Expense - 偿债成本
Debt - 责任
Weight Debt - 相对于债务的资本权重
Weight Cost Debt - 债务权重相对于资本总额
Tax - 税
Interest Expense = 2.39
Debt = 77.77
Market Cap = 8.26
Weight Debt = Market Cap / (Market Cap + Debt) = 8.26 / (8.26 + 77.77) = 0.096
Weight Cost Debt = 100% - 0.096 = 0.904
Tax = 0.21
Cost Of Equity — 贴现率
Cost Of Equity = k(f) + β * Risk Premium + Country Premium (Damodaran table)
k(f) — 无风险回报率
β (beta) — 确定股票（资产）相对于市场的风险度量，并显示股票盈利能力变化相对于市场盈利能力变化的敏感性。
Risk Premium — 风险溢价——投资股票的风险溢价
Country Premium - 国家风险
k(f) = 2.89
β = 0.0424
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.89 + 0.0424 * 5.94 + 0 = 0.0314
WACC = (2.39 / 77.77) * (100% - 0.096) * (1 - 0.21) + 0.0314 + 0.096 = 2.43
Terminal Value = Discount (13.45 * (1 + -0.0813) / (2.43 - -0.0813)) = 103.77
Company Value = ∑ (13.45 / (1 + 2.43) ^ 5) = 75.02
Price = (Terminal Value + Company Value) / Count shares = (103.77 + 75.02) / 34140000 = 5236.89

Price = (Terminal Value + Company Value) / Count shares
Price - 价格公道
Terminal Value — 预测后期间的成本
Company Value — 预测期内的成本
Count shares - 股份数量
Terminal Value = Discount FCF(5) * (1 + FCF Yield) / (WACC - FCF Yield)
Company Value = ∑ (Discount FCF / (1 + WACC) ^ 5)
Discount FCF(5) = 15.06
FCF Yield = -1.73
WACC = (Interest Expense / Debt) * (Weight Cost Debt) * (1 - Tax) + Cost Of Equity * Weight Debt
Interest Expense - 偿债成本
Debt - 责任
Weight Debt - 相对于债务的资本权重
Weight Cost Debt - 债务权重相对于资本总额
Tax - 税
Interest Expense = 2.39
Debt = 77.77
Market Cap = 8.26
Weight Debt = Market Cap / (Market Cap + Debt) = 8.26 / (8.26 + 77.77) = 0.096
Weight Cost Debt = 100% - 0.096 = 0.904
Tax = 0.21
Cost Of Equity — 贴现率
Cost Of Equity = k(f) + β * Risk Premium + Country Premium (Damodaran table)
k(f) — 无风险回报率
β (beta) — 确定股票（资产）相对于市场的风险度量，并显示股票盈利能力变化相对于市场盈利能力变化的敏感性。
Risk Premium — 风险溢价——投资股票的风险溢价
Country Premium - 国家风险
k(f) = 2.89
β = 0.0424
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.89 + 0.0424 * 5.94 + 0 = 0.0314
WACC = (2.39 / 77.77) * (100% - 0.096) * (1 - 0.21) + 0.0314 + 0.096 = 2.43
Terminal Value = Discount (15.06 * (1 + -1.73) / (2.43 - -1.73)) = -5.54
Company Value = ∑ (15.06 / (1 + 2.43) ^ 5) = 36.56
Price = (Terminal Value + Company Value) / Count shares = (-5.54 + 36.56) / 34140000 = 908.6